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Insurance - what kind do you have? Allied is moving away from home-based business...

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Basil Fawlty

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Dear Colleagues - we are in the process of shopping for new insurance. Our insurance company, Allied is dropping the home-based business insurance we've had for 6 years and wants us to upgrade to commercial. Our insurance goes from 1400.00 a year to 4500.
We are a four room bed and breakfast and this makes a big dent when you consider health insurance on top of that!
I'd be interested to hear ideas.
Many Thanks,
Kimberly
 

gillumhouse

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I am with Erie. I have business coverage (meaning they KNOW I am a B & B) but I am going on 66, kids are grown and NOT dependent, I have 3 rooms in Podunk (but in a city with a great fire code rating even though it is VFD). That is background so you know I have no future to protect.
I have coverage on the building and contents for what it would cost to build a new house. I have $300K liability and do not remember what the others things are other than I do have a rider protecting the Historical Assoc when I take guets into the log house. I pay about $1200 per year. I could have better but that is about all I am willing to pay. If I am sued, they will get whatever my max coverage is - and if they want to take my property? go ahead. I will have my kids buy me a trailer in one of their names for me to live in. I have reached the point in my life that THINGS have no meaning.
I do not need employee theft coverage - I have no employees. I do not need a lot of the bells & whistles Wolf packages. They ARE the best value dollar for dollar but I do not have those dollars - I cannot afford a Masserati, just a Yugo. I have CYA insurance. I wish they would have a menu package for coverage - take what you need and leave what you don't so you only pay for what you need.
 

Don Draper

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Erie here too, their service is fantastic and no one could touch their rates for liability and worker's comp.
 

Breakfast Diva

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I'm in the Pac NW as you are and I've been with Oregon Mutual for a few years. 4 rooms, 3 buildings (1 is small innkeeper house) and our rates are about $3,500 a year. It's a lot and keeps going up each year. When we first started almost 10 years ago, our policy was about $1,400 year. I wish our room rates went up that much!
If you find a commercial policy at a good rate, let us know. I'll be doing price comparisons in a few months.
Good Luck!
 

EmptyNest

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Have you checked with your local Farm Bureau? We used them and know of several others who do as well.
 

Copperhead

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There have been several threads about B&B insurance companies, I suggest doing a search to check who others have. I have James Wolfe, which provides a complete ins. package, and yes mine is higher than the quote you have but I feel fully protected.
One you may try is Farmers. I have heard good things about them as well.
 

agoodman

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I can't find anyone to insure me anything OTHER than commercial - I am with Utica with my bank as the broker, around $3k/year with a $5k deductible, remember no "residential" insurance will insure a "paying guest" if they get food poisening, fall down your steps etc .. well not that I can find in GA anyway
 

egoodell

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We have Markel - we have two rooms and an ABC license and it runs something like $2600/ year.
RIki
 

EmptyNest

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I can't find anyone to insure me anything OTHER than commercial - I am with Utica with my bank as the broker, around $3k/year with a $5k deductible, remember no "residential" insurance will insure a "paying guest" if they get food poisening, fall down your steps etc .. well not that I can find in GA anyway.
That has always been the case. No insurance company will give residential insurance to a B & B. It has to be commercial insurance.
 

Copperhead

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I can't find anyone to insure me anything OTHER than commercial - I am with Utica with my bank as the broker, around $3k/year with a $5k deductible, remember no "residential" insurance will insure a "paying guest" if they get food poisening, fall down your steps etc .. well not that I can find in GA anyway.
agoodman said:
remember no "residential" insurance will insure a "paying guest" if they get food poisening, fall down your steps etc .. well not that I can find in GA anyway
Worth noting for innspiring. (and for those that are trying to fly under the radar)
 

Basil Fawlty

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I can't find anyone to insure me anything OTHER than commercial - I am with Utica with my bank as the broker, around $3k/year with a $5k deductible, remember no "residential" insurance will insure a "paying guest" if they get food poisening, fall down your steps etc .. well not that I can find in GA anyway.
agoodman said:
remember no "residential" insurance will insure a "paying guest" if they get food poisening, fall down your steps etc .. well not that I can find in GA anyway
Worth noting for innspiring. (and for those that are trying to fly under the radar)
.
I guess we were lucky for a few years to have our broker here in Poulsbo. We don't fly under the radar, as it were, but had a Bed & Breakfast rider written to our policy. Allied doesn't offer that anymore.
Many thanks for everyone's input. It is very helpful, indeed as we go forward!
Green Cat Guest House
 

Samster

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I can't find anyone to insure me anything OTHER than commercial - I am with Utica with my bank as the broker, around $3k/year with a $5k deductible, remember no "residential" insurance will insure a "paying guest" if they get food poisening, fall down your steps etc .. well not that I can find in GA anyway.
Try Markel Insurance - we had commercial insurance on 2 historic buildings here in GA (plus a detached 3-car garage) and it was significantly less than your premium. It had high liability coverage as well.
 

Joey Camb

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Think you guys are getting done on your insurance we pay $1600 a year for 12 rooms and all the regular liability stuff (ie food poisoning & falling etc) and covers us for employees we use NIG they are are international insurance company may be worth a look.
 

Morticia

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We use a local company that only writes in this state.
 

Proud Texan

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We are with AllState. We have a standard homeowner's policy, a business policy and an umbrella policy that covers any gray areas.
 

Copperhead

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We are with AllState. We have a standard homeowner's policy, a business policy and an umbrella policy that covers any gray areas..
Proud Texan said:
We are with AllState. We have a standard homeowner's policy, a business policy and an umbrella policy that covers any gray areas.
Maybe they will do this for you since you have seperate cabins and insure them seperately? Allstate told us no way as they did not do B&B policies - nation wide. We had been with them since we married... when we prepared to open we had to switch insurers.
 

agoodman

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Think you guys are getting done on your insurance we pay $1600 a year for 12 rooms and all the regular liability stuff (ie food poisoning & falling etc) and covers us for employees we use NIG they are are international insurance company may be worth a look..
camberleyhotelharrogate@yahoo.co.uk said:
Think you guys are getting done on your insurance we pay $1600 a year for 12 rooms and all the regular liability stuff (ie food poisoning & falling etc) and covers us for employees we use NIG they are are international insurance company may be worth a look.
Unfortunately Americans are a lot more "sue happy" than in the UK, and with all the disasters we have had lately (floods, hurricanes etc) our rates are very high.
 
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